By Laura Perdew
As part of the administration’s ongoing efforts to bolster California’s business climate, the Governor’s Office of Business and Economic Development (GO-Biz) released the final list of 31 companies it is recommending for the first allocation of California Competes tax credits totaling $30 million.
“The California Competes tax credit encourages businesses large and small to expand in California and create good paying jobs in a variety of industries,” said GO-Biz director Kish Rajan.
The tax credits are offered to companies interested in expanding or relocating to California. GO-Biz is recommending 31 companies – including 11 small businesses – for a total of approximately $30 million in tax credits. According to the 31 companies, these credits could help create approximately 6,000 jobs and spur more than $2 billion in investment across California. These companies represent industries such as manufacturing, biotech, agriculture, food processing, aerospace, high tech, clean tech and more. The complete list of potential awardees is available here.
Between December of 2013 and April 2014, GO-Biz conducted more than two dozen workshops and webinars statewide to educate businesses on the application process. GO-Biz began accepting applications on March 19th and closed the application window on April 14th.
A total of 396 companies applied and …read more
Source: Fullerton Chamber of Commerce